Benchmark Electronics, Inc. (NYSE:BHE) Earns Neutral Rating from Citigroup Inc.
Benchmark Electronics, Inc. (NYSE:BHE)‘s stock had its “neutral” rating reissued by Citigroup Inc. in a note issued to investors on Friday. They currently have a $36.00 price objective on the technology company’s stock, up from their prior price objective of $32.00. Citigroup Inc.’s price target points to a potential upside of 7.46% from the stock’s previous close.
Several other brokerages have also recently commented on BHE. Royal Bank Of Canada boosted their price target on Benchmark Electronics from $33.00 to $37.00 and gave the company a “sector perform” rating in a research note on Thursday. Needham & Company LLC boosted their price target on Benchmark Electronics from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, BidaskClub cut Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Benchmark Electronics currently has an average rating of “Hold” and an average price target of $32.00.
Shares of Benchmark Electronics (NYSE:BHE) traded up 0.75% on Friday, reaching $33.50. 523,265 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $33.23 and its 200-day moving average price is $31.90. The company has a market capitalization of $1.67 billion, a P/E ratio of 26.59 and a beta of 0.51. Benchmark Electronics has a 12 month low of $22.55 and a 12 month high of $35.25.
Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The business had revenue of $616.90 million during the quarter, compared to analysts’ expectations of $577 million. Benchmark Electronics had a return on equity of 5.59% and a net margin of 2.84%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. On average, equities analysts anticipate that Benchmark Electronics will post $1.47 EPS for the current year.
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In other Benchmark Electronics news, insider Jon J. King sold 24,627 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $31.40, for a total transaction of $773,287.80. Following the completion of the sale, the insider now owns 51,848 shares of the company’s stock, valued at $1,628,027.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in BHE. Envestnet Asset Management Inc. boosted its stake in shares of Benchmark Electronics by 36.1% in the first quarter. Envestnet Asset Management Inc. now owns 3,388 shares of the technology company’s stock worth $108,000 after buying an additional 898 shares during the last quarter. Founders Capital Management acquired a new position in shares of Benchmark Electronics during the first quarter worth approximately $127,000. Ameritas Investment Partners Inc. acquired a new position in shares of Benchmark Electronics during the first quarter worth approximately $129,000. State of Alaska Department of Revenue raised its position in shares of Benchmark Electronics by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 5,480 shares of the technology company’s stock worth $174,000 after buying an additional 180 shares during the period. Finally, Citadel Advisors LLC acquired a new position in shares of Benchmark Electronics during the first quarter worth approximately $207,000. 96.60% of the stock is owned by hedge funds and other institutional investors.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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